In the spotlight
Innovation is not what it used to be. It’s no longer just a matter of coming up with a new product. It’s also about how you manufacture it—developing cloud-based control systems to run factories around the world where the product is made, harvesting economies of scale. Or it’s about creating digitalized supply and delivery chains that operate automatically around the clock.
Stop bashing public finance. Public institutions are vital to global innovation. That's the message from world-class economist Mariana Mazzucato in an interview with the European Investment Bank. The University of Sussex professor visited the EIB to discuss public investment and her book "The Entrepreneurial State and the Role of Public Banks".
The EIB is the EU bank. But it finances urban development outside the EU too, like the Quito Metro. Follow the map of the line under construction in Ecuador’s capital, where the UN conference on urban development takes place this month, to learn about projects the EIB took from the earliest stages through to implementation.
Last year Slovenian-based Gorenje, one of Europe’s few producers of domestic appliances, or “white goods” took a EUR 50 million loan for research and development from the European Investment Bank. We asked their executive vice president for joint R&D, Dr Boštjan Pečnik, to tell us what the market trends are that are driving innovation in this sector.
Thanks to ELENA, the EIB's technical assistance initiative, France’s first energy renovation public service is supporting the restoration of a thousand individual and collective housing units in Picardy’s stock of private residential properties.
The Maltese EU Presidency held a two-day road safety conference this week, bringing together experts, stakeholders, and policy-makers with the aim of proposing new actions to improve road safety. Over a coffee, Per Mathiasen, EIB’s road safety expert, shared his insights on the subject.
Development is about expertise and influence—not just money. To help end poverty, fight climate change and bring ravaged cities back from disaster, the European Investment Bank supported 87 new projects outside the EU last year. Here are some of the results we expect.
The Sitka spruce is one of the largest species of evergreens in the world. It can grow to nearly 100 meters tall, at an astonishing pace of 1.5 meters per year, and have a trunk diameter of 5 meters. The largest one currently known has an estimated trunk volume of 337 cubic meters – surely enough to produce more than enough paper to print all the copies of Ulysses sold during James Joyce’s lifetime just from a single tree.
Covid-19 could mean that European companies lose revenues equivalent to 13-24% of EU GDP. We estimate that corporate investment could fall by between 31% and 52%, even in a more favourable scenario. To support economic recovery after coronavirus, our focus should shift from firms’ short-term liquidity needs to a policy response that combines access to credit with long-term equity-type finance to mitigate the trap of too much debt.